By the close of trading on Wall Street, only the 30-stock Dow was in the green, as the broader market, represented by the S&P 500 and the tech-heavy Nasdaq, bowed to the continuing pressure from higher bond yields, a rising US dollar, and the growing realization that it is of no use trying to nudge […]
Still waiting for signs on inflation Read More »
After spending billions to secure an overpriced position in lithium, Gina Rinehart and her company, Hancock Prospecting, are now setting their sights on rare earths. Their latest move involves acquiring a stake in Lynas Rare Earths (ASX:LYC), the largest miner of this crucial material outside of China. Last week, it was revealed that Hancock and
Hancock Prospecting sets sights on rare earths Read More »
Bank of Queensland (ASX:BOQ) has cut its interim dividend after reporting a sharp slide in revenue and cash earnings for the six months to February 29. The Brisbane-based bank said the interim dividend was set at 17 cents a share, down from 20 cents a year ago, with the dividend reinvestment plan continuing (which helps
Bank of Queensland cuts interim dividend Read More »
US markets finished close to the flatline following Federal Reserve Chair Jerome Powell comments that interest rates may need to stay elevated. The S&P 500 lost 0.21 per cent, the Nasdaq closed down 0.12 per cent and the Dow Jones rose 0.17 per cent. Fed Chair Powell commented that “More recent data shows solid growth
Markets close mixed following Fed rate commentary Read More »
Despite a fairly solid Chinese crude steel production figure for March, iron ore prices slid 2.3% in Singapore on Tuesday as uncertainty about the real health of the Chinese economy took hold. China’s crude steel output in March fell 7.8% from a year earlier as steelmakers cut production amid weaker-than-expected demand and growing inventories, but
Iron ore prices slide despite stable Chinese steel production Read More »
Australian shares experienced significant losses on Tuesday, following a decline on Wall Street fueled by strong US retail sales data, dampening expectations of interest rate cuts by the Federal Reserve and the Reserve Bank. The benchmark S&P/ASX 200 index closed 1.8 percent lower, with notable declines in consumer stocks, utilities, and mining sectors, marking the
ASX closes 1.8% lower to its largest one-day drop since March the previous year Read More »
China’s gross domestic product grew 5.3% in the first quarter from the same period in 2023, surpassing conservative forecasts of around 4.6% to 5%. However, it was only marginally ahead of the 5.2% rate recorded in the final quarter of 2023. While some Western media and analysts emphasized the better-than-expected performance, the reality is that
China’s first quarter economic performance and property crisis Read More »
Israel/Iran fears and rate cut uncertainty – shares are vulnerable to a bout of volatility but here’s five reasons why the trend will likely remain up After strong gains, shares are vulnerable to a pull back or more volatile/constrained returns than seen so far this year.The key threats at present are Iran’s attack on Israel
Rate cut uncertainty in the Middle East Read More »
Dalaroo Metals (ASX:DAL) has announced a gold system discovery from its maiden program of air core drilling at the Goodbody West gold prospect, Lyons River Project in the Gascoyne Province, Western Australia. The Lyons River Project tenure has potential for the delineation new gold prospects over its strike distance of 30km. Shares are trading 81.25
Stocks of the Hour: Dalaroo Metals, Decmil Group, Far Northern Resources Read More »
Australian shares declined sharply following stronger-than-expected US retail sales data, dampening hopes for interest rate cuts and triggering a 1.26 per cent drop to the S&P/ASX 200, marking the third consecutive session of losses. The decline was widespread, with all 11 sectors in the red, notably affecting energy stocks and leading to significant losses for
ASX falls 1.26% at near noon: All sectors in red Read More »
